Mining company Meteoric Resources has announced a billion-dollar investment in a megaproject in Caldas-MG. The megaproject promises to transform Brazil into one of the leaders in the exploration of rare earths, essential resources for cutting-edge technologies.
Minas Gerais stands out in โ21st century gold rushโ, as rare earths have been called, with three large projects totaling R$4,6 billion. The main megaproject is that of the mining company Meteoric Resources, which will receive an investment of R$1 billion in Caldas-MG, where Viridis is also planning another project worth R$1,2 billion. Other investments include R$2,4 billion by the Brazilian company Terra Brasil and R$800 million by Mineraรงรฃo Serra Verde.
All about the investment in the rare earth megaproject on Brazilian soil
According to Marcelo Carvalho, executive director of the mining company Meteoric Resources, in a seminar at the end of October 2023, Brazil has the potential to supply 10% to 15% of the global rare earth market in the next ten years.
The mining company announced investments of R$1 billion over three years in the Caldas-MG MegaProject and will have as its neighbor the Australian Viridis Mining and Minerals, which has just purchased research and exploration rights in the city.
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The announcement of the implementation of the Meteoric company was made in August of last year by Governor Romeu Zema, with the presence of Mayor Sรฉrgio Azevedo, the company's directors and representatives of the Australian government.
A rare earth exploration in Brazil promises to be more profitable than in China, world leader in this type of mining. According to information from O Globo, the expectation is to extract 2,5 to 3 kg of rare earths per ton of clay, while in China, this ratio is 800g to 1 kg for each ton of clay.
MegaProject in Caldas-MG will create thousands of new jobs
The clay from which the minerals are extracted is called ionic clay, in soils where, millions of years ago, volcanoes existed, such as in Caldas-MG. In the city, in addition to rare earths, another legacy is the sulfurous waters, which attract tourists from all over the country for their various medicinal and aesthetic treatments.
Brazil has the potential to meet 10 to 15% of global demand over the next ten years. The O Globo article also highlights the speech by the municipal secretary of Economic Development and Labor, Franco Martins, who predicts a 50% increase in the municipality's revenue over the next ten years and also the arrival of new companies in the region.
As previously mentioned, the investment by the mining company Meteoric Resources in the MegaProject will be R$1,18 billion in the ionic clay extraction project. The expectation is to generate 700 jobs and, according to information from the company, the investment includes 51 mining processes and the company should begin extracting ionic clay in 2027. According to the government of Minas Gerais, the company is in the initial phases of studies and surveys in the area and expects to start operating the production plant by 2026.
I think they're going to turn the rich ground into a pothole.
The project is in the city of Caldas, although the company's administrative base is in Poรงos de Caldas
It looks like it will happen. When Brazil becomes a desert, all of the country's natural resources have been removed from the soil and all that will remain are the catastrophes caused by the rebound that nature will cause in response. All of these companies will leave Brazil and we will be left with a devastated land with many problems that we will inherit from these mining companies.
Brazil has always been a backyard for exploration by Europe, America, Asia and the like. And there are **** who applaud Tarcรญsio from SP, Caiado from GO, Castro from RJ, Leite from Rs and one of the worst Romeo Zema from MG.
Don't worry, the change will arrive on horseback.